SeaStar Medical Terminates Key Preferred Stock Agreement
Ticker: ICUCW · Form: 8-K · Filed: Feb 16, 2024 · CIK: 1831868
| Field | Detail |
|---|---|
| Company | Seastar Medical Holding CORP (ICUCW) |
| Form Type | 8-K |
| Filed Date | Feb 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $11.50, $100 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: agreement-termination, preferred-stock, corporate-governance
Related Tickers: ICU
TL;DR
**SeaStar Medical just terminated a key preferred stock agreement, which could shake up their capital structure.**
AI Summary
SeaStar Medical Holding Corp. (NASDAQ: ICU) announced on February 15, 2024, the termination of a Material Definitive Agreement related to its Series A and Series B Preferred Stock. This termination was effective as of the reported date, impacting the terms associated with these preferred stock series. The company, based in Denver, Colorado, filed this 8-K to disclose the cessation of this agreement.
Why It Matters
The termination of a material definitive agreement, especially one related to preferred stock, can significantly alter a company's capital structure and future financing options, potentially impacting shareholder value.
Risk Assessment
Risk Level: medium — Terminating a material definitive agreement, particularly for preferred stock, introduces uncertainty regarding future financing and capital structure.
Key Players & Entities
- SeaStar Medical Holding Corp. (company) — Registrant
- February 15, 2024 (date) — Date of earliest event reported
- Series A Preferred Stock (other) — Affected security
- Series B Preferred Stock (other) — Affected security
- Denver, Colorado (other) — Company headquarters
FAQ
What was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on February 15, 2024.
What specific item information was reported in this 8-K?
The specific item information reported was the "Termination of a Material Definitive Agreement."
Which types of preferred stock were mentioned in relation to the terminated agreement?
The filing mentioned us-gaap:SeriesAPreferredStockMember and us-gaap:SeriesBPreferredStockMember, indicating Series A and Series B Preferred Stock.
What is the business address of SeaStar Medical Holding Corporation?
The business address of SeaStar Medical Holding Corporation is 3513 Brighton Blvd, Suite 410, Denver, Colorado, 80216.
What is the Commission File Number for SeaStar Medical Holding Corporation?
The Commission File Number for SeaStar Medical Holding Corporation is 001-39927.
Filing Stats: 505 words · 2 min read · ~2 pages · Grade level 14.2 · Accepted 2024-02-16 08:00:10
Key Financial Figures
- $0.0001 — ich registered Common Stock par value $0.0001 per share ICU The Nasdaq Stock Mark
- $11.50 — sable for one share of Common Stock for $11.50 per share ICUCW The Nasdaq Stock Ma
- $100 million — cified in the Purchase Agreement, up to $100 million of the Company's common stock, $0.0001
Filing Documents
- icu-20240215.htm (8-K) — 38KB
- 0000950170-24-016160.txt ( ) — 182KB
- icu-20240215.xsd (EX-101.SCH) — 45KB
- icu-20240215_htm.xml (XML) — 6KB
02 Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement. As previously disclosed in the SeaStar Medical Holding Corporation (the "Company") Current Report on Form 8-K filed August 24, 2022, the Company entered into a Common Stock Purchase Agreement (the "Purchase Agreement"), as amended by that certain Amendment No. 1 to the Purchase Agreement, dated as of November 9, 2022, and a Registration Rights Agreement Tumim Stone Capital LLC ("Tumim" and, together with the Company, the "Parties"), pursuant to which Tumim has committed to purchase, upon the terms and conditions specified in the Purchase Agreement, up to $100 million of the Company's common stock, $0.0001 par value per share (the "ELOC"). On February 15, 2024, the Parties to the Purchase Agreement agreed by mutual consent and pursuant to its terms to terminate the Purchase Agreement, effective immediately.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SeaStar Medical Holding Corporation By: /s/ Eric Schlorff Date: February 16, 2024 Name: Eric Schlorff Title: Chief Executive Officer